Help! My next move

Jenb2k2

Hi, Wondered if anyone could help with regard to where i go next.

I have "almost" finished the aat technician level (re-sitting FRS in Dec). I am weighing up my options for "when" i pass this exam.

I have worked in accounting for the past 5 years but only for normal business' not for an accountancy firm so this entails the general accounts for the company via computer based system. As i havnt worked for an accountancy company, i feel a little unconfident about going it alone (part time only) and doing accounts for small business. Do i need the experience of working in an accountancy and dealing with company accounts before i take the plunge and start up part-time on my own? What helped you decide that this was a good path to take? I am worried that i will take on a company's accounts and struggle with them as i only have knowledge from txt books, simulations and tutoring through college, not actually done totally hands on stuff.

Really unsure of what to do, any help and advice would be greatly appreciated.

Many thanks
Jen

Jenb2k2

Sorry, the exam i am re-sitting is DFS not FRS!!.

burg

Although you will have picked up a certain amount of valuable technical ability there will be aspects they you may struggle with:-

Generally dealing with clients and their demands and needs as well as requests for advice. Dealing with clients comes with experience.

Tax - I assume from your role you have had little if any tax exposure. This is obviously the main fundamental reason that many businesses require an accountant. If you cannot offer this service with confidence then you may struggle.

There are however some that have made that transition from Industry straight to MIP.

Maybe it could be an option to take on bookkeeping clients and find some subcontract work to gain the other experience? Certainly though the best way would be to seek employment in a practice where you can gain this all round experience and take that forward in a few years.

You also say you currently lack the confidence. If this is reflected to clients when you initially meet them for quotes etc then you will almost certainly fail to win their business.

Only really you can know if you are ready to take this leap. The confidence is the biggest issue which shows the lack of experience. So for now I would honestly say no and find a way to get that experience so you can do what you desire.

Jenb2k2

Thanks Burg, you have some very valid points there. Obviously, a lot for me to consider and maybe you are right in that i try to get employment within an accountancy company first, this would certainly give me the confidence to go it alone later on.

Thanks again.